• Journal of Korea Trade
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• 제27권1호
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• pp.1-18
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• 2023

Purpose - Using a sample of Korean multinational corporations, we examine whether the relationship between tax risk and the implied cost of capital discriminates between the environmental, social, and corporate governance (ESG) of highly rated firms. Design/methodology - Firms with high tax risks have an increased uncertainty of future cash flows. Therefore, as the volatility of future cash flow increases, information asymmetry and the required return increases. Highly rated ESG firms can reduce information asymmetry, thereby weakening the positive relationship between tax risk and cost of capital. We employ the standard deviation of the cash effective tax rate as proxy of tax risk. We utilize the ESG rating data of the Korea Corporate Governance Service (KCGS). We use a PEG model, MPEG model, and GM model to measure the implied cost of capital. Findings - We find a positive association between the implied cost of capital and tax risk. The positive relationship between tax risk and the implied cost of capital weakens in highly rated ESG firms. Highly rated ESG firms prefer a stable tax position to invest after-tax cash flows into sustainable management. Therefore, the negative effects of tax risk on cost of capital can be reduced. Originality/value - This study provides empirical evidence that ESG activities can mitigate the negative impact of tax risk on the cost of capital for Korean multinational corporations. In a business environment where ESG activities are more important, the empirical results that ESG activities can reduce the corporate risk of Korean FDI companies are expected to provide implications for the ESG activities of multinational corporations.

• 한국조리학회지
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• 제3권
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• pp.385-421
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• 1997

This study was performed as placing stress on business plan preparation and investing economy analysis centered to cases upon presenting the premises of study for new foundation of food service business. The summarized results are as follows: 1. In the aspect of carrying out process of practical project, establishing the promotion strategy, the facility project program, the menu program, the facility and furniture program, organization & manning schedule, the business operation schedule, review of all laws & provisions and the allout promotion schedule in order were deployed. 2. Analysis of investing economy for review of profitability 1) In case of investment, excluding 600million for the real setate lease among the total investment of 1billion, it was required by 161, 235, 000 for interior project, 161, 110, 000 for facility & equipment, 19, 235, 000 for fittings, 27, 600, 000 for menu plate & uniform, 27, 600, 000 for furniture, 13, 800, 000 for sign article. 2) In case of loss & profit presumed the annual turnover is to be 1, 115, 856, 000 the contigent profit(before tax) is to be 148, 966, 000 which is 13.3% in comparson to the sales amount and the net profit(after tax) for this term s to be 104, 276, 000 which is 9.3% against the sales and the profitable ratio to the equity investment( 500 million) is 20.9% and it satisfies 20% of the premises of study. 3) In case of the payback period will be approximately two(2) years which indicated within three(3) years that is standard of new project evaluation term of ordinary enterprise. 4) In case of internal rate of return it will be 21.5% which is favorable profitability as taking into account of 15% that is standard of new project evaluation by ordinary enterprise based on general downtown money interest. That the investing value of Happy Day profitability is hinted as it is sufficient enough as the case under this study based upon such results and considered that securing supremacy is competitive power in case of commitment will be possible.

• The Korean Journal of Physiology
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• 제3권1호
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• pp.59-66
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• 1969

Experiments on thermoregulatory responses to cold immersion stimulus were carried out in September, 1968 (summer studies) and February, 1969 (winter studies). Eight each of ama and control subject were selected at random from a same community in Yong-Do Island, Pusan. The results obtained are summarized as follows: 1) The rate of fall in muscle temperature of forearm during a 30 min-immersion in $6^{\circ}C$ water bath was significantly slower in the ama in winter and was about the same in the two groups in summer. However, the magnitude of change in the skin temperature and the heat fluxes observed during immersion period was not significantly different either between groups or between seasons. 2) Both finger blood flow and skin temperature during one hr-immersion in $6^{\circ}C$ water bath decreased significantly in the ama as compared to the control. The magnitude of cold-induced vasodilatation during immersion period was significantly greater in the control in winter. However, the time of onset and blood flow at onset showed no significant relation between groups. 3) The magnitude of reactive hyperemia after a 5 min-arterial occlusion in both air and $15^{\circ}C$ water bath was significantly lower in the ana than in the control. In control subjects, post-occluded blood flow in water was significantly greater than in air, while in the ama it decreased to 1/2 of control values. The time required for the return of blood flow to resting values in the air was faster in the ama than in the control but was the same in water in the two groups. 4) The results suggest that vasoconstrictor tone increased in the ama in winter, indicating the development of vascular adaptation as a part of cold acclimatization.

• 한국농공학회지
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• 제13권4호
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• pp.2471-2478
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• 1971

Go Cong Water Control Project was conducted on its preliminary survey and design by Agricultural development Corporation for the Korean Government, an Executing Agency, and Directorate of Irrigation and Rural Engineering of the Ministry of Land Reform, Agriculture and Fishery Development for the Vietnamese Government, a cooperation Agency, under Korean and Vietnamese Economic and Technical Cooperation Program. The main purposes of the project are aimed at the improvements of irrigation and drainage, and salt water prevention of the Go Cong area located at northern part of the Mekong Delta. All the works from field survey through design to preparing reports were carried out by ADC alone and recently Korean Government submitted the relevant reports to vietnamese Government through official channel. The contents of the project are summarized as following: 1. The project comprises irrigation, drainage and salt water prevention facilities on the benefited area of about 55,000 hectares, covering Go Cong and Dinh Tuong(My Tho) Provinces and it will be possible to cultivate rice cropping twice a year, irrigating all the area in the dry season; 2. With completion of this project, annual production of rough rice and vegetables are anticipated to increase by 222,600 .T. and 142,600 M.T. respectively and the internal rateof return stants at 26 per cent, applying for the exchange rate of US $ 1 to VN $ 275. 3. Total investments required for the project are estimated at US $ 56,394,000 of which actual construction cost is estimated at US $ 39,183,000. The project has planned to be d to be developed by four stages, taking bout 7 years. 4. The project needs for three places of pumping plants. 57Km of feed and main irrigation canals, 81Km of drainage channels, 97Km of dike, 23 places of sluices and navigation locks, etc.

• 상하수도학회지
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• 제31권1호
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• pp.103-114
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• 2017

A membrane bioreactor by sequentially alternating the inflow and by applying a two-stage coagulation control based on pre-coagulation was evaluated in terms of phosphorus removal efficiency and cost-savings. The MBR consisted of two identical alternative reaction tanks, followed by aerobic, anoxic and membrane tanks, where the wastewater and the internal return sludge alternatively flowed into each alternative reaction tank at every 2 hours. In the batch-operated alternative reaction tank, the initial concentration of nitrate rapidly decreased from 2.3 to 0.4 mg/L for only 20 minutes after stopping the inflow, followed by substantial release of phosphorus up to 4 mg/L under anaerobic condition. Jar test showed that the minimum alum doses to reduce the initial $PO_4$-P below 0.2 mg/L were 2 and 9 mol-Al/mol-P in the wastewater and the activated sludge from the membrane tank, respectively. It implies that a pre-coagulation in influent is more cost-efficient for phosphorus removal than the coagulation in the bioreactor. On the result of NUR test, there were little difference in terms of denitrification rate and contents of readily biodegradable COD between raw wastewater and pre-coagulated wastewater. When adding alum into the aerobic tank, alum doses above 26 mg/L as $Al_2O_3$ caused inhibitory effects on ammonia oxidation. Using the two-stage coagulation control based on pre-coagulation, the P concentration in the MBR effluent was kept below 0.2 mg/L with the alum of 2.7 mg/L as $Al_2O_3$, which was much lower than 5.1~7.4 mg/L as $Al_2O_3$ required for typical wastewater treatment plants. During the long-term operation of MBR, there was no change of the TMP increase rate before and after alum addition.

• 산학경영연구
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• 제14권
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• pp.1-30
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• 2001

수도권에서 사업하는 부가가치세 일반과세자 600명을 대상으로 수집한 자료의 실증분석을 통하여 다음과 같은 결과를 얻을 수 있었다. 첫째, 부가가치세 포탈요인은 재무, 세무행정, 조세지식, 조세윤리, 탈세기대심리, 사회, 제재 요인으로 분류되었다. 둘째, 재무, 조세지식, 사회, 제재 요인이 부가가치세의 포탈성향에 영향을 미치는 것으로 분석되었다. 셋째, 재무 요인에서 납세자의 기업형태와 매출규모에 따른 차이를, 조세지식 요인에서 납세자의 사업기간, 매출규모와 세무조사경험에 따를 차이를 그리고 사회 요인에서 납세자의 세무조사경험에 따른 차이를 확인하였다. 넷째, 포탈성향은 납세자의 기업형태, 업종, 매출규모와 세무조사경험에 따라서 차이를 보였다. 이상의 연구결과는 부가가치세 포탈방지를 위한 조세정책 수립에 다음과 같은 시사점을 줄 것이다. 첫째, 개인 사업자와 매출규모가 작은 사업자에 대해서 세무관리를 강화하여야 할 것이다. 둘째, 유통업인 도 소매업의 포탈정도가 가장 크므로 이에 대한 세무관리의 강화와 함께 유통정보시스템(POS시스템, 거래기록의 전산화, 거래당사자간 EDI 구축 등)의 도입에 대한 세제 및 세정상의 유인책 수립이 요구되어진다. 셋째, 세무조사를 받았던 기업의 포탈성향이 낮으므로 세무조사 경험이 없는 납세자에 대한 세무조사의 확대 실시가 요구되어진다. 넷째, 개인 사업자나 매출 규모가 큰 기업의 경우에 재무 요인이 큰 포탈요인으로 작용하므로 개인 사업자나 매출 규모가 큰 기업을 세무관리를 하는 경우에 재무 요인을 중요하게 인식하여야 할 것이다. 다섯째, 사업기간이 짧을수록, 매출액이 적을 수록, 또한 세무조사 경험이 없는 경우에 조세 지식 요인이 포탈요인으로 크게 작용한다. 따라서 사업기간이 짧거나 매출액이 적거나 세무조사 경험이 없는 납세자를 중심으로 납세교육과 홍보의 강화를 병행하여 세법지식의 부족으로 인한 비자발적 탈세를 예방하여야 할 것이다. 여섯째, 세무조사 경험이 없는 경우에 사회 요인이 포탈요인으로 크게 작용한다. 따라서 세무조사 경험이 없는 납세자를 중심으로 정부와 세무당국에 대한 신뢰도를 높이고 사회적 공평성과 책임성을 높일 수 있는 대안을 마련하도록 하여야 할 것이다.

• 한국벤처창업학회:학술대회논문집
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• 한국벤처창업학회 2007년도 춘계학술대회
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• pp.203-226
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• 2007

본 연구는 우리나라 자본재 산업의 중소기업을 대상으로 사업영역과 기술혁신역량이 경영성과에 미치는 영향을 실증 분석하였다. 자료는 지역별 산업단지 관리공단의 도움을 받아 1,077개의 중소제조업체를 대상으로 조사하였고 그 중 자본재 산업에 속하는 228개 기업을 분석하였다. 실증 분석 결과, 사업영역에서 제조제품군수가 영업이익률에 정(+)의 영향을 미쳤다. 기술혁신역량에서는 지적재산권수가 매출성장률에 정(+)의 영향을 전문기술인력비는 영업이익률에 정(+)의 영향을 미쳤다. 또한, 사업영역과 기술혁신역량 의한 상호작용 효과도 존재하는 것으로 나타났다. 전문기술인력비가 높을수록 제품다각화가 경영성과에 정(+)의 영향을 미쳤고, 지적재산권이 많을수록 거래고객과 제조제품군수는 영업이익률과 매출성장률에 각각 정(+)에 영향을 미쳤다. 이러한 연구결과는 자본재 산업의 중소기업들이 경영성과를 제고하기 위해서는, 기술능력을 축적하고 사업영역을 확대해야함을 의미한다. 또한, 기업들이 사업영역을 확대하기 위해서는 먼저 내부의 기술혁신역량을 축적하는 것이 필요하다는 점을 시사한다. 특히, 고객의 범위를 확장할 때 새로운 고객의 욕구를 충족시킬 수 있는 기술역량을 가지고 있어야 함을 의미한다. 그리고 기술혁신역량이 높은 기업일수록 중소기업의 제조제품군수의 확대는 경영성과를 개선할 수 있다는 점을 뜻한다.

• Design & Manufacturing
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• 제17권3호
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• pp.21-27
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• 2023

The mold industry in Japan, an advanced country in the mold industry, is also at a point of great change. The main causes are the Ukraine crisis and the collapse of the global supply chain (parts supply chain) caused by COVID-19. In addition, the prices of overseas products are rising sharply due to rapid exchange rate fluctuations (decrease in the value of the yen). Until now, Japan's monotsukuri industry has been actively pursuing overseas expansion, riding the trend of globalization. However, the trend began to rapidly reverse, and now the monotsukuri industry that had expanded overseas is showing a tendency to return to Japan. Another factor of change is the change in the automobile industry, which is the most demanded product in the mold industry. As the automobile industry evolves from gasoline cars to electric cars, the number of parts that make up a car will drastically decrease. This trend is expected to increase the demand for small-scale production of a variety of products in the mold industry, and furthermore, it is expected that short delivery times will be required in parts development. As in Korea, the production population working in the mold industry is rapidly decreasing in Japan as well. Even if you add up the total population working in manufacturing in Japan, it only accounts for about 15%. Even in Japan, it is judged that it will be difficult to sustain the monotsukuri industry with this small production population. Therefore, since improvement in production efficiency cannot be expected with the same manual dexterity as before, the mold industry is also demanding the development of mold technology at a different level than before to increase productivity. In this paper, I would like to introduce new Japanese mold technology collected through attending the Intermold exhibition. This is an example of applying a dedicated pin (Gastos) to a mold to prevent an increase in internal pressure during plastic injection molding, and a deep drawing press molding technology with an inherent hydraulic function.

• 한국산학기술학회논문지
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• 제18권2호
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• pp.390-397
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• 2017

외래어종의 유입은 토종어류의 감소 및 수중생태계의 교란을 가져올 수 있기 때문에 어류의 차단 및 관리 방안은 반드시 필요하다. 따라서 본 연구에서는 외래어종의 유입을 차단하기 위해 버블을 이용한 어류 차단 시스템을 개발하였으며 실험수로를 제작하여 차단 가능성을 평가하였다. 버블 발생장치는 공기압축기로 공기를 발생시켜 버블커튼을 만든 후 어류를 차단하는 시스템이며 실험어류는 국내 외래어종인 파랑볼우럭을 대상으로 하였다. 파랑볼우럭의 크기는 0.10 m ~ 0.15 m이며 수심은 0.70 m를 유지하였다. 실험수로의 유속은 어류의 유영능력을 고려하여 3단계로(0.20 m/s, 0.10 m/s, 0.05 m/s) 나누어 실시하였다. 실험 결과 파랑볼우럭은 버블 적용 전 70.07%가 상류로 거슬러 올라가려는 움직임을 보였으며 하류를 서식처로 생각해 움직임이 거의 없는 개체를 고려하면 어류 소상률은 더 높을 것으로 판단된다. 그러나 차단시설을 설치할 경우 대부분의 어류가 버블커튼에 의해 다시 하류로 회귀하는 움직임을 보여 차단효과가 매우 높게 나타났다. 특히 버블을 종료할 경우 빠른 시간 내 다시 상류로 거슬러 올라간 것으로 보아 버블을 이용한 어류 차단효과는 뛰어난 것으로 판단된다.

• 인지과학
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• 제22권3호
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• pp.255-270
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• 2011

본 연구에서는 상황인식 시 구체 및 비구체적 단서가 테니스 선수의 의사결정에 어떠한 영향을 미치는 가를 조사하였다. 피험자는 미국 국가 테니스 등급 프로그램 중 수준이 3-4.5에 해당하는 사람들을 대상으로 하였다. 과제는 피험자가 테니스 단식수비, 단식공격, 복식 수비 랠리 장면을 상황인식하다가 화면이 정지되면 가능한 빨리 예측방향을 예상하여 해당버튼(좌, 중, 우)을 누르는 것이다. 실험설계는 집단(3)${\times}$조건(3)${\times}$영역(7)에 대한 삼원분산분석을 실시하였다. 종속변수는 반응시간, 정확률, P300의 진폭과 잠재기였다. 연구결과 구체적정보 집단과 비구체적 정보 집단이 통제집단보다 P300 잠재기는 짧고, 진폭은 더 큰 것으로 나타났다. 영역에는 Fz, Cz, Pz 영역의 진폭이 크게 나타났으며, 조건 간에는 단식수비조건이 단식공격 그리고 복식수비조건 보다 진폭이 크게 나타났다. 본 연구의 결과 독립변수로 제공된 비구체적 상황인식과 구체적 상황인식 정보는 피험자의 정보처리에 직접적인 영향을 미치는 것으로 나타났다. 또한, 본 연구의 결과는 사건관련전위가 상황인식이나 의사결정 과정을 측정하는 도구로 사용될 수 있다는 것을 보여주었다.